Healthcare Services Group, Inc. (HCSG) Given Average Rating of “Buy” by Brokerages

Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) have been assigned a consensus rating of “Buy” from the six analysts that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $51.75.

A number of brokerages have issued reports on HCSG. Robert W. Baird reaffirmed a “buy” rating and issued a $52.00 target price on shares of Healthcare Services Group in a research note on Wednesday, October 4th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $49.00 target price on shares of Healthcare Services Group in a research note on Friday, September 29th. Zacks Investment Research downgraded Healthcare Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th. BidaskClub raised Healthcare Services Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 23rd. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $56.00 target price (up from $50.00) on shares of Healthcare Services Group in a research note on Thursday, July 13th.

In related news, Director Robert L. Frome sold 5,000 shares of the firm’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $53.00, for a total transaction of $265,000.00. Following the completion of the sale, the director now directly owns 20,501 shares of the company’s stock, valued at approximately $1,086,553. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert J. Moss sold 2,000 shares of the firm’s stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $52.76, for a total value of $105,520.00. Following the sale, the director now directly owns 2,000 shares of the company’s stock, valued at $105,520. The disclosure for this sale can be found here. Insiders sold a total of 36,750 shares of company stock valued at $1,910,345 over the last ninety days. Corporate insiders own 4.30% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Miles Capital Inc. increased its position in shares of Healthcare Services Group by 0.3% during the 1st quarter. Miles Capital Inc. now owns 6,881 shares of the business services provider’s stock worth $297,000 after purchasing an additional 20 shares during the last quarter. 1st Global Advisors Inc. increased its position in shares of Healthcare Services Group by 0.5% during the 2nd quarter. 1st Global Advisors Inc. now owns 16,996 shares of the business services provider’s stock worth $796,000 after purchasing an additional 81 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of Healthcare Services Group by 1.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 5,809 shares of the business services provider’s stock worth $272,000 after purchasing an additional 94 shares during the last quarter. Ashford Capital Management Inc. increased its position in shares of Healthcare Services Group by 0.3% during the 1st quarter. Ashford Capital Management Inc. now owns 28,398 shares of the business services provider’s stock worth $1,224,000 after purchasing an additional 95 shares during the last quarter. Finally, TD Asset Management Inc. increased its position in shares of Healthcare Services Group by 1.0% during the 2nd quarter. TD Asset Management Inc. now owns 10,483 shares of the business services provider’s stock worth $491,000 after purchasing an additional 100 shares during the last quarter. 91.71% of the stock is owned by hedge funds and other institutional investors.

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Healthcare Services Group (NASDAQ:HCSG) traded down 0.22% on Wednesday, reaching $54.53. 396,066 shares of the company’s stock traded hands. Healthcare Services Group has a 52 week low of $34.83 and a 52 week high of $55.68. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 47.83 and a beta of 0.62. The firm has a 50-day moving average price of $52.10 and a 200-day moving average price of $48.61.

Healthcare Services Group (NASDAQ:HCSG) last issued its earnings results on Tuesday, July 11th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.01. Healthcare Services Group had a return on equity of 24.12% and a net margin of 5.07%. The business had revenue of $470.90 million during the quarter, compared to the consensus estimate of $425.24 million. During the same period last year, the company earned $0.26 EPS. The company’s revenue for the quarter was up 21.8% on a year-over-year basis. On average, analysts predict that Healthcare Services Group will post $1.25 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Friday, August 18th were paid a $0.1888 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.19. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.38%. Healthcare Services Group’s dividend payout ratio (DPR) is 65.22%.

Healthcare Services Group Company Profile

Healthcare Services Group, Inc provides management, administrative and operating services to the housekeeping, laundry, linen, facility maintenance and dietary service departments of the healthcare industry, including nursing homes, retirement complexes, rehabilitation centers and hospitals located throughout the United States.

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